Bitcoin Protocol Babylon Hours Away From Opening 'Duration-Based' Staking Round
Summary
Babylon, a Bitcoin protocol, will launch a new "duration-based" staking round called "Cap-2" on Tuesday. This round allows users to stake up to 500 BTC per transaction over 10 Bitcoin blocks, starting at block 864,790 and ending at block 864,799, lasting approximately one hour and 40 minutes. The previous staking round in August quickly reached its cap of 1,000 BTC within six blocks, highlighting strong demand for Bitcoin staking. Babylon aims to enable proof-of-stake chains to access Bitcoin's capital reserves, enhancing Bitcoin's utility similar to networks like Ethereum. The project previously raised $70 million in May.
